Assenagon Asset Management S.A. acquired a new position in Forward Air Co. (NASDAQ:FWRD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 138,923 shares of the transportation company’s stock, valued at approximately $7,980,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Forward Air by 0.6% in the second quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock worth $143,589,000 after buying an additional 16,137 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Forward Air by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock worth $71,850,000 after buying an additional 139,363 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Forward Air by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,214,199 shares of the transportation company’s stock worth $69,488,000 after buying an additional 3,378 shares during the last quarter. State Street Corp increased its holdings in Forward Air by 1.4% in the second quarter. State Street Corp now owns 785,118 shares of the transportation company’s stock worth $41,835,000 after buying an additional 10,471 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Forward Air by 4.6% in the second quarter. Northern Trust Corp now owns 467,009 shares of the transportation company’s stock worth $24,882,000 after buying an additional 20,421 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

In other Forward Air news, Director George M. Lynch sold 1,640 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total transaction of $93,480.00. Following the transaction, the director now owns 12,383 shares in the company, valued at $705,831. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Bruce A. Campbell sold 34,281 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.01, for a total value of $1,885,797.81. Following the transaction, the chairman now owns 155,831 shares in the company, valued at approximately $8,572,263.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,549 shares of company stock worth $5,250,836. Corporate insiders own 2.40% of the company’s stock.

Forward Air Co. (NASDAQ:FWRD) opened at $62.17 on Friday. Forward Air Co. has a twelve month low of $45.86 and a twelve month high of $64.80. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1,864.34, a P/E ratio of 29.19 and a beta of 1.18.

A number of research firms recently commented on FWRD. Stephens restated a “buy” rating and issued a $80.00 price objective on shares of Forward Air in a report on Wednesday, January 10th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Tuesday, January 9th. Cowen restated a “market perform” rating and issued a $54.00 price objective (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. Finally, Stifel Nicolaus increased their price objective on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.60.

TRADEMARK VIOLATION WARNING: “Assenagon Asset Management S.A. Acquires New Holdings in Forward Air Co. (FWRD)” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://theolympiareport.com/2018/01/28/assenagon-asset-management-s-a-acquires-new-holdings-in-forward-air-co-fwrd.html.

About Forward Air

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Want to see what other hedge funds are holding FWRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forward Air Co. (NASDAQ:FWRD).

Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.